Sheffield has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 9.20% to date .
Comparing Sheffield,7306 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Sheffield is offering property investors an average of -5.55. This rate of discount on properties puts Suburb at number 86th in terms of most discounted suburbs in TAS
At number 1061 in a list of fastest selling suburbs, Sheffield is in the TOP 30% of suburbs in Australia with an average of days on market 60.3 for properties listed there.
Property investors should expect to get $280 weekly from the median priced house in this suburb.
Information supplied by:
Median house price: $248,000
Three-year growth: -11.0%
Rental yield: 5.2%
Situated on the foothills of Mount Roland, Sheffield is the rural centre for the mountain region. It is known for the murals decorating the suburb that illustrate the history of the area, and is regarded as the Apple Isle’s outdoor gallery.
This is a massive change from Sheffield’s background as an industrial hub. An annual mural-painting festival is now held in Mural Park, while indoor treasures are found in Mural House. Residents can enjoy rowing at Lake Barrington and picnicking at Devils Gate Dam.
Sheffield is a volatile market, with prices rising and falling over recent years. Prices declined by 11% in 2015, but rose by 7.8% in the year to August 2018 before slipping again in the three months to August. The market, however, is very low priced, with the median house value being lower than $250,000.